NYTimes.com: Too Big to Fail, or to Survive

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Dear Everyone; This NY Times op-ed comes from a Cato Fellow and calls for the demise of Freddie and Fannie over a 10-15 year time frame and based on gov't figures only a $25 billion bail out. He proposes a private insurance market to pick up the guarantees - which isn't a bad idea. But the time frame is problematical. Personally speaking while there are massive political 3rd rail political interests at stake the time frame could be cut down to next month. Just shut them down. If shutting down is the premise then just shut them down and be done with it and stop the billion dollar bailout of the private enterprise mortgage securities companies at the taxpayers expense. The help to home owner mortgagees is a sop to saps who thought they could pull a fast one. It totally ignores the home owners who did put down down payments and kept up their mortgage payments and is an insult to them. Stop the bail out using taxpayers as golden parachutes. Ron Getty - SF Libertarian Hostis res Publica Morte ai Tiranni

OPINION | July 27, 2008
Op-Ed Contributor: Too Big to Fail, or to Survive
If Fannie Mae and Freddie Mac were put out of business in an orderly fashion over 5 to 10 years, the market would pick up the business they abandon.